Tokio Marine Asset Management Co. Ltd. Increases Position in Zoom Video Communications, Inc. (NASDAQ:ZM)

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 7,970 shares of the company’s stock after acquiring an additional 145 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Zoom Video Communications were worth $556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its position in shares of Zoom Video Communications by 30.6% in the first quarter. Avantax Advisory Services Inc. now owns 6,120 shares of the company’s stock valued at $400,000 after buying an additional 1,433 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Zoom Video Communications by 18.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 129,761 shares of the company’s stock valued at $8,482,000 after acquiring an additional 20,367 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in Zoom Video Communications by 8.1% during the 1st quarter. Hillsdale Investment Management Inc. now owns 7,970 shares of the company’s stock valued at $521,000 after acquiring an additional 600 shares in the last quarter. Covestor Ltd raised its position in Zoom Video Communications by 36.5% during the first quarter. Covestor Ltd now owns 2,009 shares of the company’s stock worth $131,000 after acquiring an additional 537 shares during the last quarter. Finally, Lane Generational LLC lifted its holdings in shares of Zoom Video Communications by 56.3% in the first quarter. Lane Generational LLC now owns 43,579 shares of the company’s stock valued at $2,849,000 after purchasing an additional 15,699 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Velchamy Sankarlingam sold 3,614 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the completion of the transaction, the insider now directly owns 94,000 shares in the company, valued at approximately $6,285,780. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Aparna Bawa sold 880 shares of Zoom Video Communications stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $68.09, for a total transaction of $59,919.20. Following the sale, the chief operating officer now directly owns 2,809 shares in the company, valued at $191,264.81. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 372,121 shares of company stock valued at $27,095,467. Company insiders own 10.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZM shares. UBS Group raised shares of Zoom Video Communications to a “hold” rating in a research note on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $78.00 price target on shares of Zoom Video Communications in a report on Friday, October 4th. Morgan Stanley increased their price objective on Zoom Video Communications from $68.00 to $86.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on Zoom Video Communications from $55.00 to $60.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Finally, Benchmark upped their target price on shares of Zoom Video Communications from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Zoom Video Communications currently has a consensus rating of “Hold” and an average target price of $76.26.

Zoom Video Communications Price Performance

Zoom Video Communications stock opened at $81.14 on Friday. Zoom Video Communications, Inc. has a 12 month low of $55.06 and a 12 month high of $87.15. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 7.12 and a beta of -0.05. The stock’s 50-day moving average is $72.07 and its 200-day moving average is $64.84.

Zoom Video Communications (NASDAQ:ZM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Zoom Video Communications had a net margin of 19.08% and a return on equity of 10.77%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company posted $0.55 earnings per share. Zoom Video Communications’s revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Zoom Video Communications, Inc. will post 2.74 EPS for the current year.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.